Top ten predictions for the 2009 global economy

In my most recent post, I gave a fairly comprehensive retrospective of the year that was.  Near the end of that post, I listed a number of posts I wrote in October and November which point to how I see 2009 shaping up.  Let me give you a more direct assessment here.  I will finish it off with my top ten predictions for 2009.

2008 was a disaster.  The subprime meltdown actually started in February 2007, giving policy makers plenty of time to act. However, inaction proved fatal as the subprime crisis metastasized into a global credit crisis that did not take full form until this past year.  In so doing, it revealed a number of inherent weaknesses in the global financial system which I believe will play out in 2009.
Banking weakness
The first problem to note is global banking fragility. ...

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